InvenSense Inc – INVN

INVN is up 20% since my first tweet on January 5, 2012 which followed a 9% gain that day from $10.90. The stock is up 33.43% since January 1, 2012 and 77.20% since the IPO on November 16, 2011. It’s a young IPO moving on strong volume with a small float and a very interesting (in-demand) technology.

The ideal buy point for this young chart pattern is $11.95, $0.10 above the high of the left side of the base, see chart below. The stock is currently extended from the buy point so please be patient and wait for a new setup or a pullback on lighter than average volume.

I do not own shares as of this post but I am looking to get in based on the analysis above. The stock shot up too quickly before I was taking it serious. It now has my attention. Note that the stock closed down 1.85% on Friday and after-hours trading had it down another $1.13 or 8.50%.

It sells its products to manufacturers of consumer electronics devices, original design manufacturers, and contract manufacturers through direct sales organization and non-stocking distributors worldwide. The company was founded in 2003 and is headquartered in Sunnyvale, California.

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I am a trend trader looking for gains of 25% or more and losses no larger than 10% (preferably smaller when I am smart enough to cut the immediate loss) on trades that will last anywhere from a few weeks to several months or longer. I aim to be prepared to trade in situations when the odds are in my favor by properly employing risk management strategies such as position sizing and expectancy.